I have been a business owner and CEO of three different companies and have seen many people give up just when they were so close to success. Here are some of my observations as to what may cause new people to resign in their online business within a short space of time. If you are new to owning an online business then you may recognise a few of these traits.
Owning your first online business is exciting in the first few weeks of starting out until the hardwork and reality sinks in. The secret is keeping motivated, organised and a calm level head in order to move your business forward.
Your mentor should be there to aid you and guide you on the initial steps you need to take to get your business up and running from day one. Listen to them, they have gone through this before you and are more than qualified to guide you one your way.
Mentoring and Helping Yourself
First things first, you need to be in a position to help yourself. Although your mentor is there to guide you, they are not there to hold your hands every step of the way. After all you wouldn’t expect your employer to shadow you around the firm for the first few months would you? As long as you know where all the right resources are and these could be company forums, business coaches, handbooks, online tutorials and the like which again your mentor should have guided you through initially. If they do not manage to do this, then either drop them an email, or contact them through their preferred method.
Changing your Mindset
Now that you have your employer hat on, yes that’s right, you need to have an employer hat, absolutely essential. Owning your own online business is totally different to having a boss to tell you what you must do on a day to day basis. You need to change your current mindset and take your home business seriously, even if you are only working this part time, you need to ensure you have a full time attitude.
Business Planning
With your employer hat on, you need to start looking at your online business development strategy (or business plan). What are your goals and objectives, what is it you are trying to achieve in your online business. How, why and when? You need to understand this clearly before you strike out in any shape or form.
• What types of advertising are you going to do to market your online business? Costed versus uncosted advertising. How much money do you realistically have?
• How much advertising and how regularly do you need to do this?
• Who are your target audience for each advertising method you choose?
Once you have thought through your business plan you may wish to pass this to your mentor for feedback. You mentor should once they have your business plan, help you to put things in place to meet that plan. But, in all, it is down to you as the business owner to ensure you carry out the required action to move your business forward.
Personal Development and Training
As a new person you may think you have to read up on every book, course and online forum note before you can actively go out there an promote your business – wrong!
Things don’t have to be perfect before you start doing them. In fact, as you are learning and going along is the best way to generate meaningful training notes/videos/blogs.
Set aside time for training, this is important if you wish to not only change your mind set but to move ahead in your online business. But, don’t make the mistake of setting aside too much time for self development and training and not enough time for your business. This can cause inertia in any business and ultimately ‘death’… of your online business.
Inaction
So many recruits can fall into this trap of inaction if they are left to themselves. As I mentioned before it takes a certain type of mentality to work for yourself. You have to develop and grow. A few good books that may help are
a) Think and Grow Rich – Napoleon Hill
b) The Twelve Pillars – Jim Rohn
c) Who Moved My Cheese – Spencer John MD
If you feel you are not doing anything constructive with your online business, speak to your mentor or your peers around you. Find a way to motivate yourself into action. Too many times, you hear about recruits getting disheartened after a number of months in, but if only they had the guts to stick it out a little longer, their rewards were just around the corner. Remember 97% of new online business start ups are doomed to fail – get into the 3% bracket…
Getting into Action
Equally important is setting aside time for your business. Many people will have started their business part time, with a view to making it full time in the not too distant future. If that is the case then make sure you are putting in serious part time hours in a very full time productive way.
Putting in 4 – 7 hours a week is an insult to your home business, you may as well treat this as a hobby, with the hope of getting some money now and then. If you want an online business to work you need to put in a lot of hours in the early stages, perhaps 10 – 12 or more hours a week. The early days in any online business are the hardest. People want to see results straight away, and sometimes the results do not happen like this if you do not put enough time, effort or action into your business.
In
part two of this article I will write about what you can do as a mentor to ensure all of the above gets underway and that your new recruit excels in their new found online business, making you lots of residual income.
Colette Morris F.R.S.A
Expert Author and Top Producer
Visit my website for more valuable information
http://www.colettemorris.com
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